Southern Cross to hold crisis meeting

15th June 2011

Landlords at care home provider Southern Cross have pledged to do all they can to help it avoid bankruptcy.

The company is holding a crisis meeting with landlords, lenders and government officials with a focus being the on how it can ensure continuity of care for the 31,000 people at the 751 care homes it runs. The problem for the care home provider is that it cannot afford to pay the full rent on its homes, though landlords may consider a compromise deal to allow it to remain solvent.